Par Pacific (NYSE:PARR) Downgraded to Sell Rating by StockNews.com

Par Pacific (NYSE:PARR - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Friday.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group dropped their price objective on Par Pacific from $20.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $26.00 to $22.00 in a research note on Monday, December 16th. TD Cowen lowered their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Raymond James began coverage on Par Pacific in a research report on Friday, January 24th. They issued an "outperform" rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Par Pacific has an average rating of "Hold" and an average price target of $22.86.

Par Pacific Stock Down 5.6 %

NYSE:PARR traded down $0.74 during mid-day trading on Friday, reaching $12.48. The stock had a trading volume of 1,905,496 shares, compared to its average volume of 931,761. The stock has a market cap of $698.00 million, a P/E ratio of 2.42 and a beta of 1.99. The business's 50 day moving average is $16.61 and its 200 day moving average is $17.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a fifty-two week low of $12.28 and a fifty-two week high of $40.20.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, sell-side analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in Par Pacific in the third quarter valued at approximately $61,870,000. State Street Corp grew its position in shares of Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after buying an additional 328,325 shares during the period. Millennium Management LLC increased its stake in shares of Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after acquiring an additional 586,003 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Par Pacific by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company's stock worth $22,591,000 after purchasing an additional 7,804 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Par Pacific by 9.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock valued at $16,878,000 after acquiring an additional 91,814 shares during the period. Institutional investors own 92.15% of the company's stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.